The Euro has arrived
January 19, 2002 12:00 AM
By Stephen Williams in Bristol West End News
By Stephen Williams in Bristol West End News
I've just had an e-mail from a friend on a sailing holiday round Madeira. On the way he travelled through France, Spain and Portugal. But he didn't have to bother with Francs, Pesetas or Escudos - he could use the Euro throughout his trip.
Yes, the Euro has arrived. All of us will soon come into contact with it and we can expect the war of words being fought over whether Britain should join or stay out to hot up in the months ahead. I've been to the Watershed for the first public meeting in Bristol to be hosted by 'Britain in Europe', the embryonic "Yes" campaign for the referendum. It was good knock about stuff, heckles on both sides from the audience and some passionate speeches from the platform. The referendum campaign looks like being a much more lively affair than the general election and I look forward to the battle.
The referendum will be won by the side that can persuade the people who are sceptical, rather than Europhobic and win over the don't knows. The "No" campaign, thanks to the foreign owned national newspapers, has made much of the running so far. Those of us who favour British entry have a lot of catching up to do. So here are five good reasons why Britain should join our European neighbours in the single currency :
- All of us as consumers will benefit from price transparency. From the supermarket to the garage forecourt we will be able to make sensible comparison between the prices charged in different countries for the same goods and services. Already BMW has announced a uniform car price in the Euro zone.
- Travellers like my friend on his yacht will benefit from the removal of transaction charges and exchange differences. Travel around Europe is now much easier. The UK tourist industry would receive a boost if we joined.
- Businesses in the Euro zone can concentrate on improving products and services rather than second guessing the currency speculators. British exporters have to suffer from a fluctuating pound as long as we stay out.
- Homeowners will benefit from lower mortgage rates. Interest rates in the Euro zone are lower than those in the UK and there is a huge range of mortgage providers. Interest rates are more likely to remain stable if we join.
- Britain has the largest share of American and Japanese inward investment. But the main reason that they come here is to export to the rest of the EU. If we stay out of the Euro expect to see investment and jobs go elsewhere.
If we join the successful single currency we can expect more jobs, more investment, more economic security. Why on earth should Britain stay out?
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